IPO for Achilles Therapeutics plc (ACHL) Opens Flat, Drifts Lower

Today's IPO for Achilles Therapeutics plc (NASDAQ: ACHL) opened for trading at $18 after pricing 9,750,000 American Depositary Shares representing 9,750,000 ordinary shares at an initial public offering price of $18.00 per ADS. Shares have since drifted lower to $17.40.

J.P. Morgan, BofA Securities and Piper Sandler are acting as joint book-running managers for the offering. Chardan, Oppenheimer & Co, and Kempen & Co are acting as co-managers.

Achilles is a clinical-stage, biopharmaceutical company developing precision T cell therapies targeting clonal neoantigens: protein markers unique to the individual that are expressed on the surface of every cancer cell. Achilles has two ongoing Phase I/IIa trials, the CHIRON trial in patients with advanced non-small cell lung cancer (NSCLC) and the THETIS trial in patients with recurrent or metastatic melanoma. Achilles uses DNA sequencing data from each patient, together with its proprietary PELEUS™ bioinformatics platform, to identify clonal neoantigens specific to that patient, and then develop precision T cell-based product candidates specifically targeting those clonal neoantigens.

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